ClubCorp Stock Jumps 11% After The Company Hires Financial Adviser To Review Its Options

By Ciara Linnane Markets MarketWatch Pulse

ClubCorp Holdings Inc. shares surged 11.4% in afternoon trade Thursday, after the private clubs owner-operator said it has hired Jefferies & Co. and Wells Fargo Securities LLC as advisers as it reviews its strategic options. The Dallas, Tx.-based company said it has formed a strategic review committee to consider ways to enhance shareholder value. The committee is made up of independent directors, who are working with management to oversee the process. ClubCorp properties include Firestone Country Club in Akron, Ohio, The Woodlands Country Club in Texas and the Metropolitan Club Chicago. Shares are now up 6.7% in the last 12 months, while the S&P 500 has gained 17%.

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